DOHA: Qatar Exchange (QE) main index fell 4.61 percent, or 556.89 points, during the past week to close at 11,523. The decline was mainly due to the exit of foreign institutional investors. Market capitalisation fell by 4.94 percent to QR624bn, from the previous week’s QR656bn.
The entire sector indices posted decline, with the Industrials, the banking and financial services losing the most. The Industrials stocks tumbled 5.51 percent and banking and financial services sector plunged 4.52 percent.
International Islamic, QNB, Industries Qatar and Electricity and Water were among the top losers of the week. International Islamic tumbled 12.94 percent and QNB fell 6.08 percent. Industries Qatar edged 6.20 percent as Electricity and Water lost 6.18 percent.
Trading value during the week decreased by 0.18 percent to QR1.7bn. Trading volume was higher than the previous week. The volume increased by 3.31 percent to reach more than 39 million from the previous week’s 37 million shares. The number of transactions was also up by11.15 percent compared to the previous week. The banks and financial services sector led the trading value, accounting for 34.81 percent, followed by Industrials sector, real estate and telecoms. The trading volume was also led by the banks and financial services sector, accounting for 28.08 percent, followed by real estate, telecoms and industrials stocks.
The trading numbers were led by Industrials stocks. Just four of the 43 listed companies ended the past week higher as 38 companies fell and one remained unchanged.
The Barwa Real Estate was the active value leader, accounting for 11 percent of total trading value.
On Thursday, the QE snapped the six successive bearish sessions and gained 0.85 percent or 97.15 percent. Market analysts noted the credit rating upgrade for Qatari banks by Fitch Ratings and launch of investment funds have positively impacted the market. But to affirm the rebound, the index should rise above the 11,650-point level with high liquidity to face resistance at the 11,800-point level, business portal Mubasher quoted analysts as saying.
The Peninsula
